Adaro Minerals (ADMR) Shares Can Be Ordered Starting Today, Here’s How To Order

Reporter: Sanny Cicilia | Editor: Sanny Cicilia

KONTAN.CO.ID – JAKARTA. Public offering period or offering shares of PT Adaro Minerals Indonesia Tbk (ADMR) starting today, Monday (27/12). Investors can start ordering shares of this subsidiary of PT Adaro Energy TBk (ADRO) during the period 27 December – 29 December.

Quoting KSEI, Adaro Minerals offered an initial share price of Rp 100 per share. The total shares offered are 6.05 billion units. In this way, the acquisition of funds from initial public offering (IPO) ADMR can reach Rp 604.86 billion.

According to the schedule, the allotment period will be carried out on December 29, 2021. While listing on the Indonesia Stock Exchange (IDX) alias listing on January 3, 2022.

In the IPO process, Adaro Minerals, which is engaged in the metallurgical coal mining and trading business, collaborated with PT Ciptadana Sekuritas Asia as the underwriter.

Adaro Minerals’ public offering will use an electronic public offering system. Interest in ADMR shares can be conveyed in several ways.

Among other things, submitted directly through an electronic public offering system or website e-ipo.co.id.

In addition, ADMR shares can be ordered through securities companies that are participants in the system where investors or investors are customers.

Lastly, through securities companies that are not system participants, but investors become customers.

In its prospectus, Adaro Minerals will use 60% of the proceeds from the IPO for the purpose of providing loans to its subsidiary, namely Maruwai Coal. This fund is to boost the capacity of coal mining infrastructure in line with the increase in coal production and exploration costs. The remainder will be used by ADMR to repay a portion of the principal loan from ADRO.